As we all sit and await the most important NFP number “evahhhh”! [until the next
time of course], it’s important to note the utter foolishness markets place on a
number that is almost entirely made up on false assumptions … the brutal reality,
though, is simple … cuz as long as the CNTRL-P machine keeps going “Brrrrrrr”
at a record clip, and FED cow chips keep getting thrown at everybody & their
brother who are part of the fraternity inside the financial system, along with
mind boggling government waste, fraud, & abuse [a/k/a in government
Apparatchik circles as “investments”], the delusion of the masses can be
maintained, and those “nasty cracks” that keep getting popped up [the latest
casualty Archegos] can be papered over and forgotten … it used to be not so
long ago that billions was a lot of money ... now it’s trillions and counting
… directly below, the link today over at ZH about the Archegos blow up and the
personal loss of billions by Bill Hwang.
https://www.zerohedge.com/markets/rehypothecated-leverage-how-archegos-
built-100-billion-portfolio-out-thin-air-and-then-blew
The upshot “takeaway lesson” here isn’t what you think … when you owe the
bank $1,000 and can’t pay it back, it’s YOUR problem … when you owe the bank
$10 billion [or more] and can’t pay it back, it’s the banks problem, and ultimately
the whole thing gets “restructured” … in other words, Hwang’s dilemma was he
LOST TO LITTLE betting on stock CFD’s … lose hundreds upon hundreds of
billions or even trillions, and the FED bails you out and gives you whatever you
want … that’s the lesson learned by those in the know today, cuz it’s “private
gain, public losses”, all backed by sandcastles built on sand, by an utterly
corrupt FED!
And now that Preezy Depends plans on bankrupting the country with untold
trillions more in boondoggle bullshit to Libtard special interests, the race to the
end of the country as you know it is well on its way to fruition … which brings me
to crypto … argue all you want, while most of the rest of the world embraces
crypto with open arms, cuz they understand what the endless CNTRL-P means,
the surest sign of its impending takeover in the years ahead, is the wailing and
gnashing of teeth by Apparatchiks at the FED, ECB, and a few other places of
world renown for corruption & graft like Nigeria & India … and the “straw man”
argument always used by these hypocrites, is that crypto facilitates money
laundering, tax evasion, & a whole host of other crimes, so it must be outlawed.
TRANSLATION TO ENGLISH FROM GOVERNMENT SPEAK: “we can’t control it,
and we can’t corrupt it like we can fiat, so therefore it’s bad” … Yup, bad for them
but good for you! … and as the FED heads the country to utter financial
destruction at some point dead ahead, crypto will become the world’s dominant
form of wealth preservation, as well as the dominant force in spending.
People the world over taking control of their own wealth and not allowing the
invisible, corrupt process of inflation and rot of fiat to ruin them over time … and
outside the control of mindless Apparatchiks who want to control you and tax
you to death to fit their Libtard agendas … fuck that in spades! … and worldwide,
people are finally figuring that out … the U.S. of course, the last place Sheeple
will put 2+2=4 together [for you Biden voters, sorry I had to use “racy-ist” math
to make a point] and “get it”, cuz they’re to bothered with social media and what
some dumb ass Hollywood moron ate for breakfast today … what I find hilarious,
is that all ZH has to do to bring the crypto haters out in force, is to print any article
at all about Bitcoin, and here they come in droves … especially the gold & silver
“bugs”, who are jealous to high heaven that their favorite rocks haven’t gone
exponential like BTC has … there’s reasons, but they don’t want to hear them
… as I’ve said before, they were the last to adopt emails and get rid of the
typewriter and the post office … when BTC is at $1 million, they’ll finally buy
some, figuring it’s “mainstream” now so it’s OK.
NFP numbers out … scumbag LP’s making it quite clear via blown out bid/offer
spreads, that if you’re gonna trade today, you’re gonna pay the Piper post NFP
… all of FX looks to be 100%+ higher in the spreads, which is bullshit, and of
course they’ll cite “duh, market conditions, duh”!, at the top of their corrupt
lungs, but the truth is they don’t want you to scalp and make money off of them
on quick hits to either Yen or Cable before the Holiday weekend … not that
there’s anything here about 30 minutes post report, cuz everything has died on
the vine pretty fast, but blowing the spreads out makes the decision an easy one
as far as trading this shit the rest of the day … getting these assholes to give you
an honest market gets harder each month, cuz they’re always looking for ways
to screw their client base … it’s who they are and it’s what they do.
No trading today in the TURNKEY PAMM, or in crypto either.
Meanwhile, over in crypto nothing much going on at all … some slight movement
in the Asian session, but nothing like earlier in the week … volumes have slowed
to a veritable trickle, and the alt-coins save a few, are literally dead in the water
… after yesterday’s massive moves in TRX & ONT, those 2 are pretty quiet today,
and in ONT the daily candlestick has a gigantic “gravestone doji” staring it in the
face, right at new highs for the move, which technically doesn’t bode well for the
next couple of days at a minimum … btw, I recommend crypto charts from
“go charting”, which is FREE and much better than Trading View … go to
And sign up for FREE CHARTS … much better selection than Trading View [TV]
in terms of indicators, AND you are allowed to save multiple charts with
unlimited indicators on them … pick and choose from spot and/or perpetual
futures from a choice of houses [e.g., Binance, Bitmex, Phemex, etc.] to follow
crypto pairs [and it doesn’t matter which one cuz they are all very close in terms
of price per crypto pair] … the charts below come from gocharting, and btw the
full algorithm can be put onto the crypto charts at gocharting!
We’ll have to see how this plays out come next week, but for now I’d expect
some downward pressure on ONT for at least a few days.
Directly below the daily candlestick courtesy of gocharting of TRXUSDT [TRON].
A different story here … although, as I noted yesterday, TRON’s ATH is all the way
up at 27 cents from 2018, so a good ways to go for this pair … at PHEMEX, Tron
trades in the spot cash [no leverage, and Premium members pay ZERO FEES to
trade it], and the price is quoted to 5 decimal places, with the bid/offer spread
usually in intervals of 0.00005 increments … ONT, which is also only spot cash,
is traded to 4 decimal places, with the bid/off spread at 0.0005 - 0.0010 the majority
of the time … directly below, the “open order book” bid/offer side-by-side of
ONT [left] & TRX [right] … not for “heavy crypto hitters” with $1 million plus
orders, but for smaller accounts, the volumes and liquidity are excellent.
I didn’t really think today would offer any big surprises, simply cuz the NFP
“whisper” numbers leaking out of the usual suspects had already built
expectations for a consensus miss to the upside … the only real surprise would
have been a miss to the downside, which would have generated a shitstorm to
the upside in FX … as it was, that didn’t happen and now people are hitting the
exit gates, and with spreads higher than normal, there’s no reason to trade
… simply none … and as we work towards the close this afternoon, you’d be
lucky to get outside the spread in anything, and if by chance you had losses of
any kind, good luck making that back today cuz it ain’t gonna happen unless by
sheer luck … last time I checked, luck is not a trading strategy.
I’m somewhat surprised crypto is lagging, but even so, if you go look, it’s light
years better than the MT4 or MT5 horseshit offered up by the banks, simply slower
than normal … that most likely will change later today when the Asian session
gets going, cuz the “Chuckleheads” have mostly migrated to crypto and have
given up the more traditional markets offered on the MT4 or MT5 … “and quite
frankly, I welcome with open arms Mrs. Watanabe & Gal Pals to the “open order
book” platform! … please, let me be on the other side of your trades … thanks in
advance, and come again”!
I had thought of writing today on the algorithm and our switch to the digital world
coming up here soon … I’ve decided to let that wait until Sunday’s blog update
… for my readers who either are inclined and trading crypto, or to those wanting
to trade crypto, I’ll be the first to admit that as much as I like PHEMEX as a trading
house, they are lacking when it comes to charting … the platform gets its feed
from TV, but there isn’t a lot of space for the chart, and by the time you add
indicators it can be a mess in the small space … that’s where gocharting comes
in real handy & valuable … and btw, just in noting cuz it will definitely improve
performance, both PHEMEX & gocharting work best in the Chrome browser … I
use the Brave browser for personal use, and use Chrome only for these two
… and for the record, most other proprietary trading platforms including web
based platforms, the Chrome browser works best cuz the developers designed it
that way cuz Chrome is the most popular browser in the world.
We’re at the “London Fix” now, and with London closed nobody is gonna get
“fixed” today in FX … spreads from here are only gonna get worse and
conditions thinner, and when we open again Sunday night Asia mostly will be
closed, followed by Europe that is totally closed due to “Easter Monday”, so
things are likely to be messy until the sun comes up in New York and the virus
scum of Wall Street hit their screens.
Blog update on Easter Sunday … until then … “the future’s so bright I need
sunglasses”! 😎 … Onward & Upward!!
-vegas
